Aberdeen-based international oilfield service company Reservoir Group said yesterday its revenue increased by more than 60% last year.
Reservoir, which made 11 acquisitions last year, said revenue for 2011 was more than £80million, compared with £50million in the previous year.
The firm said it planned similar expansion this year and chief executive Pascal Bartette said the group was hoping to match last year’s revenue rise in 2012.
Reservoir also said yesterday that Wade McCutcheon had been promoted to chief operating officer. It added that Mr McCutcheon had taken on the newly established position from his previous role as vice-president for the group’s formation evaluation activity.
Mr Bartette said: “The last 12 months have been significant in terms of the company’s evolution and we plan on a similar increase in our revenue once again this year.
“I am pleased to announce Wade’s appointment as chief operating officer. This is a key step towards the pursuit of an aggressive growth goal.”